“Fragmentation in today's payments ecosystem actually reminds me of a phenomenon currently occurring in space, which involves satellites and space junk. Space debris, or junk, (debris from satellites, space probes, and manned space missions) is continuously colliding with other space junk in orbit.
These collisions cause fragmentation, resulting in exponentially smaller pieces of debris orbiting space and cascading down. This is known as The Kessler Effect. In the 1970s, NASA space debris expert Don Kessler observed that once past a certain critical mass, the total amount of space debris will keep increasing. Collisions give rise to more debris and lead to more collisions, generating a chain reaction. As a result, there is now a band of space junk which, NASA worries, might inhibit rocket travel.
Something very similar to this Kessler Effect is occurring in today's payments ecosystem.”
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